Hall Spars bought out of receivership by North Technology Group
MORE CONSOLIDATION IN THE SAILING INDUSTRY – North Technology Group now owns both Southern Spars and Hall Spars. North's acquisition of Hall was revealed in an NTG press release Monday night. Full text of the release:
Hall Spars group was founded 37 years ago by Eric Hall in Bristol, Rhode Island and expanded to facilities in Auckland, New Zealand and Breskens, Netherlands.
The US parent company announced in early 2017 that it would be closing the doors due to well publicized financial challenges after an investment deal to stabilize the company at the end of 2016 fell through.
NTG’s acquisition will see Hall Spars activities continue in Auckland and Breskens, and a re-establishment of Hall’s Service presence in Rhode Island for both local and globally based customers.
“Hall Spars has long been highly regarded in the mast business and the financial challenges the company faced earlier this year were very saddening but reflect just how tough the marketplace has become,” said Richard Lott, COO of North Technology Group. “Our involvement will secure the design records and so forth to the benefit of existing Hall customers everywhere, past present and future. We will retain many key staff and much production capability. It is a great fit for NTG and should be good for all involved.” Lott concluded.
NTG’s Mast business will comprise both the strong Hall Spars and Southern Spars brands alongside the world’s premier rigging supplier Future Fibres.
The group’s management is determined to maintain the branding and manufacturing independence of each of them, with Hall Spars and Southern Spars recognized as serving customers with slightly different requirements.
“We see the addition of Hall Spars as a further strengthening of the group’s mast making skills” said Sam Watson, CEO of NTG’s mast businesses. “It broadens our reach with the addition of the male mandrel mast building technology. This balances Southern’s typically female molded approach enabling us to serve all customers’ needs.”
About North Technology Group
North Technology Group originated with worldwide sail making leader North Sails in 1957. Founded by Lowell North in a San Diego, USA, garage, NTG has grown into a diverse family of companies serving marine and manufacturing markets worldwide. North Sails, the leader in sail making technology is the cornerstone of North Technology Group. Other NTG companies include; Edgewater Power Boats, North Thin Ply Technology, and Southern Spars.
Hall Spar HQ office and plant in Rhode Island. The company has also had facilities in the Netherlands and New Zealand. Photo: Hall Spars website.